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Stellantis expects strike to cost it $795 million in third-quarter profits

MILAN — Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. The net revenue boost was due to higher volumes in all markets except Asia. Chief Financial Officer Natalie Knight told journalists that StellantisÂ’ strike impact was lower than the other Big Three automakers due to its global profile as well as some high-profile cost-cutting measures, calculating the hit at around 750 million euros ($795 million.) GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. Ford has put its impact at $1.3 billion. “We continue to be in a very strong position globally and in the U.S. This is an important market for us, and weÂ’re highly profitable and we are very committed to our future," Knight said. “But mitigation is core to how we act, and how we proceed.” Stellantis has canceled appearances at the CES technology show in Las Vegas next year as well as the LA Auto Show, due to the strike impact. Stellantis on Saturday reached a tentative agreement with the United Auto Workers Union to end a six-week strike by more than 14,000 workers at its assembly plants in Michigan and Ohio, and at parts warehouses across the nation. Stellantis does not report full earnings for the third quarter, instead providing shipments and revenues. It said that global sales of electric vehicles rose by 37% over a year earlier, powered by the Jeep Avenger and commercial vehicle sales. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%. Related video: Earnings/Financials UAW/Unions Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM

2015 Jeep Renegade Trailhawk [w/video]

There are two avenues to the world of off-roading. Arguably the more popular is to pick up a second- or third-hand Jeep, Land Rover or pickup truck and go wild with the aftermarket. The opposite approach, though, is to simply buy new, which brings a warranty along with the most up-to-date off-road tech fitted by the factory (despite likely lacking the ultimate capability of an aftermarket-imbued vehicle). That second option has, traditionally, been pricey. Take our long-term Jeep Cherokee Trailhawk, which rings up at just over $38,000. A Ford F-150 SVT Raptor is going to be an even more expensive proposition, while the undisputed kings of luxury off-road performance from the factory – the Range Rover, Toyota Land Cruiser and Mercedes-Benz G-Wagen – will require ownership of a medium-sized oil well. With all due respect to those who take their Trail-Rated Jeep Patriot models off-road, the all-new Renegade Trailhawk is such an exciting proposition because it brings the cost of a warranty-backed off-roader down significantly, while also delivering a degree of trail-rated performance that should easily fulfill the needs of the average enthusiast. Drive Notes Before we get into what it adds, it's worth noting that the Trailhawk trim does have a small impact on the Renegade's on-road abilities. As we said in our original feature, the TH adds a significant amount of weight to the standard CUV, as it tips the scales at nearly 3,600 pounds. That mass, combined with the slightly higher stance, means the off-road model doesn't handle quite as well as a lesser Jeep. It also doesn't feel as fleet of foot, as it retains the same 2.4-liter, 180-horsepower four-cylinder and nine-speed automatic found throughout the Renegade range. Despite the downers, the Trailhawk trim does bring quite a lot to the Renegade package, most notably in the form of a bespoke version of Jeep's Active Drive all-wheel-drive system. The upgraded system features a dedicated 20:1 crawl ratio while the Selec-Terrain system is home to a new Rock setting. Beyond that, Jeep lifted the Renegade's ride height eight-tenths of an inch, increasing overall ground clearance to 8.7 inches and delivering 8.1 inches of wheel articulation. This is complemented by unique front- and rear-fascias, which up the approach and departure angles to 30.5 and 34.3 degrees, respectively, besting the Cherokee Trailhawk's 29.8 degrees and 32.1 degrees.

Australian Jeep marketing stunt goes awry [w/video]

Jeep fans in Australia are none too happy with the off-road brand following a contest that saw ten new Cherokees sold for just $10,000 Australian (about $9,400), roughly a quarter of the vehicle's price Down Under.
The contest, called the "World's Most Remote Dealership," gave Aussies the chance to snag an ultra-affordable Cherokee Longitude (analogous to the US-spec Latitude trim), provided they could get to a secret dealership in the remote wilderness of western New South Wales, near the border with the state of South Australia.
In order to get the exact location of the dealership, though, potential customers needed to download an app, which would release a phone number 9:00 AM AEST on Thursday (7:00 PM EDT, Wednesday night). The first ten people who could call in and prove they could afford to finance $10,000 and get to the remote dealership, were given the location of the remote dealership.